Why Colorado Real Estate Agents Should Have a Reverse Mortgage Pro in Their Network

Why Colorado Real Estate Agents Should Have a Reverse Mortgage Pro in Their Network
🔥Get Your Free Info Kit🔥
For More Reverse Mortgage info, contact:
Shawn@LifeSourceMortgage.com
(949) 492-2252 x 704
🔥🔥🔥🔥More Info🔥🔥🔥🔥
https://lifesourcemortgage.com/reverse-mortgage

In this video we talk about Why Colorado Real Estate Agents Should Have a Reverse Mortgage Pro in Their Network. There's two or three good reasons really.

1. First and foremost, we have a our duty as an advisor (whether it be a mortgage advisor or licensed real estate agent / advisor) to best serve our clients needs.

2. Secondly, you can potentially get more customers for yourself and also maybe a bigger commission.

As a real estate pro., you've probably stumbled across people that wanted to downsize homes either because their home is too big or they want something smaller or going from a 2 story home to a 1 story home.

Maybe the current home is too much of a financial burden, so less home could help reduce that burden

Often times that thought is "hey, let's take this big old home, sell it, then use the proceeds to pay cash for the smaller home. Then, we won't have a mortgage payment."

The good news is, you can accomplish the same thing with a reverse mortgage except you don't have to part with as much money.

Here's how it works. If someone is aged 62 which is the point of entry for the FHA reverse mortgage. This person would need to put down about 60% plus closing costs. The rest would be financed by the reverse mortgage. In turn, they won't have a monthly mortgage payment for as long as they live of for as long as they live in that home.

The down payment decreases with each passing year. The older they are, the lower the down payment requirement.

On the other side of the age spectrum, someone aged 90 plus would only need to put down 25 - 30%. This allows them to keep alot of their hard earned equity or cash. Again, this also allows them to live in the home for the rest of their lives without a monthly mortgage payment. They can if they want to though. It's just a regular loan, but doesn't have a monthly payment that is mandatory.

They can still leave the home to whomever they want in the will.

Their main responsibility is to maintain taxes and insurance because they DO still own the home like a regular loan.

🔥Get Your Free Info Kit🔥
For More Reverse Mortgage info, contact:
Shawn@LifeSourceMortgage.com
(949) 492-2252 x 704

🔥🔥🔥🔥More Info🔥🔥🔥🔥
https://lifesourcemortgage.com/reverse-mortgage
#ColoradoRealEstate #ReverseMortgagePurchase #IncreaseRealEstateCommissions

www.LifeSourceMortgage.com Is not a lender or bank nor are we part of HUD / FHA. We are however a licensed mortgage broker In California, Colorado, and Idaho that specializes in reverse mortgages, fast closing purchase loans, and more. Anyone that inquires and requests more information may be contacted by the owner or employee of this site. LifeSource Mortgage, CA BRE#01869699. NMLS#321759, ID MBL#2080321759.